Monitoring Desk
WASHINGTON: The World Bank approved $825 million for Pakistan on Wednesday to improve the national power transmission system in Pakistan, and enhance health and education service delivery in the country.
Country Director of World Bank for Pakistan, Illango Patchamuthu informed that WB will provide $425 million for National Transmission Modernization Project-I (NTMP-I) and it will modernize the national transmission system to make sure the provision of power to the masses.
Illango said that the $400 million Public Financial Management (PFM) reform program will address these challenges through the enactment of a robust public finance management law, which will lead to decentralization of payment and empower the front-line service delivery managers.
The PFM reform program is financed by the International Development Association, the World Bank’s fund for the poor, with a maturity of 25 years, including a grace period of 5 years.
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